Single Family Homes 50k or Less

46 Replies

@Brandon McBride I started wholesaling in Nashville, which you can’t hardly buy land for less than 100k. I’ve recently moved into parts of Alabama like Huntsville, Birmingham, Tuscaloosa. In Bham and Tuscaloosa, the rental market is strong but house prices are down. Definitely some fixer uppers for less than 50k, and even nice houses below 75k.

Originally posted by @Will Clark :

@Brandon McBride I started wholesaling in Nashville, which you can’t hardly buy land for less than 100k. I’ve recently moved into parts of Alabama like Huntsville, Birmingham, Tuscaloosa. In Bham and Tuscaloosa, the rental market is strong but house prices are down. Definitely some fixer uppers for less than 50k, and even nice houses below 75k.

Thank you! I'll send you a message as additional questions come up!

 

From what I've researched, Jackson MS is a good cash flowing market with lower SFH prices. I have one under contract with turnkey rental company for $72k, but you can def find good ones for less as well. My contact at the turnkey company owns 9 in Jackson, so that even more validation for me.

@Ruchir Kaul Most houses under 75k in Hville are usually in some rough neighborhoods. Possibly a real fixer upper could snag that price. Shoot me a PM with your email and phone number so I can add you to my list of Huntsville buyers if I get anything that fits what you’re looking for!

@Brandon McBride I cannot speak for all of Indiana but I know in some pockets of the state your strategy is very doable. Evansville, In is where I have the most luck when looking for homes under 50k I think it's worth checking out. Good luck in your search

@Brandon McBride . I grew up in North Central Indiana, and have been living in Indy area for last 15 years. Have family scattered through out the state . Work over the years has taken me down 65 towards Louisville and more fam in Bloomington and Crawfordsville area.  In Indiana you can find deals anywhere. Find a team specific to a area you like, and get a trust worthy group looking out for what you want. If you need a walk through the Indy area please feel free to reach out. 50k is a competitive range around Indy, but you can find deals if you look in donut counties as well!

Originally posted by @Anthony Rosa :
Originally posted by @Michael Ablan:

@Brandon McBride -  We have these in Upstate NY.  Feel free to PM me if you'd like more info on the area

How are the areas (Schools, jobs, crime) in upstate NY with the 50K-60K homes? 

Schools are good. 

Jobs could be always be better. A lot of our economy is driven by the military, hospitals, schools and blue collar jobs

Crime is pretty non existent.  Mainly just petty nonsense. 

 

@Brandon McBride

These are my bread and butter in central Nebraska. My average deal is to buy a unit worth $45,000 for all in around $32,500 after fix up. My average rents are $584 a month for my 35 unit portfolio. I will be just about doubling that portfolio within the next year with deals I already sourced. My typical cash flow per deal allowing $200 per month for Repairs, vacancy, Cap ex is around $100 a month financed and $235 a month when paid off. I self manage my portfolio but outsource any and all repairs/maintenance. I realize this isn’t too sexy for you big city folks but it provides my family with a great income. We are also half owners of a 35 acre Rv park with a 10 acre private lake. We are in the process of adding rental cabins to it as well.

@Brandon McBride

I have a home in Michigan City that I am considering selling. 2 bed 1 bath, rents for $700 but could easily get $750-$800. Have a long term tenant now so giving them a deal. Lease is through Feb 2021. Turnkey.

PM if you’re interested in learning more.

There is a lot about OH and some submarkets in the Midwest in general. 

To invest Out of State at that price point, the deal has to really make sense because after paying everyone to be your boots on the ground you will need to get something for yourself too. 

For people on the California coasts or Seattle, NYC and other high price real estate areas, those talking about buying single family homes for under $50k must be pretty difficult to believe.

I am just finishing up a sales contract this evening for a 2/1 house in Georgia for $25K. It's not a nice house but it's brick! And it has good bones. Currently occupied and renting for $375. I think we could probably get $500+ with a light rehab. We'll probably just leave the present tenants in it for now as we're working on other projects. So there's stuff out there...

This post has been removed.

Originally posted by @Leah Ratnofsky :

From what I've researched, Jackson MS is a good cash flowing market with lower SFH prices. I have one under contract with turnkey rental company for $72k, but you can def find good ones for less as well. My contact at the turnkey company owns 9 in Jackson, so that even more validation for me.

Wow! Are you open to sharing with me who your turn key company is that you're using? Feel free to message me. Thank you! 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here